DXY expecting C Wave correction to 88.21 by April or June 2021
DXY long term view expecting slow correction to 88.21 by April 2021 to June 2021 .. My view is invalid if DXY cross 104
Feel that we retest 88 to 89 levels between April 2021 to June 2021.
I have shared my Elliot wave count for DXY weekly . I have earlier posted this view in Jan 2020 but had to retract due to Major upsurge in DXY in Feb/March 2020 but DXY did not have strength to break the 5th wave high of 103.65 ...and really struggling to cross 103.5 confidently. All this price action giving me confidence that B wave in DXY is complete and we have started Wave C on weekly and might continue for 12 to 14 months and finally retest the 88 to 89 level which is also completes long term Wave II and start Wave III after April 2021 onwards may reach 120 in coming years as DXY to sky rocket from 88 to 89 levels (Elliot wave Running flat correction for DXY in progress since Dec 2016 ...)
We are also getting fundamental support from Fed and US Govt to weaken to keep DXY below 101...constantly providing Dollar support and buying treasuries from foreign players...
Who knows SP500 ,DOW and could have new high ...before next April/May 2021/June 2021... I might sound foolish at this time as most of economist and hedge funds/Traders are expecting DXY to break 104 shortly in within 2 months.
This is not trading advice..Just my imagination, thoughts and thesis.
Feel that we retest 88 to 89 levels between April 2021 to June 2021.
I have shared my Elliot wave count for DXY weekly . I have earlier posted this view in Jan 2020 but had to retract due to Major upsurge in DXY in Feb/March 2020 but DXY did not have strength to break the 5th wave high of 103.65 ...and really struggling to cross 103.5 confidently. All this price action giving me confidence that B wave in DXY is complete and we have started Wave C on weekly and might continue for 12 to 14 months and finally retest the 88 to 89 level which is also completes long term Wave II and start Wave III after April 2021 onwards may reach 120 in coming years as DXY to sky rocket from 88 to 89 levels (Elliot wave Running flat correction for DXY in progress since Dec 2016 ...)
We are also getting fundamental support from Fed and US Govt to weaken to keep DXY below 101...constantly providing Dollar support and buying treasuries from foreign players...
Who knows SP500 ,DOW and could have new high ...before next April/May 2021/June 2021... I might sound foolish at this time as most of economist and hedge funds/Traders are expecting DXY to break 104 shortly in within 2 months.
This is not trading advice..Just my imagination, thoughts and thesis.
Comment:
is this playing out now that i posted on April 26th 2020. I am watching my earlier DXY detailed analysis closely now.. we might find DXY short term bottom at 96.20... may then retest to symmetry triangle 98 to 99 and then come towards 87 to 88.. before US selection or just after US selection..
